Elaine Marshall on Jobs

15% refundable tax credit for new hires

Job Creation Tax Credit: Businesses are wary of hiring because of the uncertainty of the economic environment. This proposal calls for a tax credit for companies that expand their payrolls. Other proposals spend tax dollars on companies that are
already hiring, giving away taxpayers' money for nothing. This program rewards companies for increasing the number of workers they have on the payroll, offering a 15% refundable tax credit for new hires, phasing out in 2012.